National Bank of Commerce, Fort Worth, TX (Charter 11430)

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The W.T. Waggoner Building, located at Houston and 8th Streets, Fort Worth, Texas. Courtesy of Google Maps ca January 2017

National Bank of Commerce (No Issue), Fort Worth, TX (Chartered 1919 - Liquidated 1921)

Town History

Advertisement from October 1920 for the National Bank of Commerce located in the Waggoner Building, Fort Worth, Texas.[1]

Fort Worth is the fifth-largest city in Texas and the 12th-largest city in the United States. It is the county seat of Tarrant County, covering nearly 350 square miles into four other counties: Denton, Parker, Wise, and Johnson. According to the 2020 U.S. census, Fort Worth's population was 927,720. Fort Worth is the second-largest city in the Dallas–Fort Worth–Arlington metropolitan area, which is the fourth-most populous metropolitan area in the United States.

The city of Fort Worth was established in 1849 as an army outpost on a bluff overlooking the Trinity River. Fort Worth has historically been a center of the Texas Longhorn cattle trade. It still embraces its Western heritage and traditional architecture and design. Nearby Dallas has held a population majority since the 1950s, and Fort Worth has become one of the fastest-growing cities in the United States in recent years, particularly in the 21st century, and has more than doubled its population since 2000.

As a stop on the legendary Chisholm Trail, Fort Worth was stimulated by the business of the cattle drives and became a brawling, bustling town. Millions of head of cattle were driven north to market along this trail. Fort Worth became the center of the cattle drives, and later, the ranching industry. It was given the nickname of Cowtown.

During the Civil War, Fort Worth suffered from shortages of money, food, and supplies. The population dropped as low as 175, but began to recover during Reconstruction. By 1872, Jacob Samuels, William Jesse Boaz, and William Henry Davis had opened general stores. The next year, Tidball and Wilson established a private banking house which became Tidball, Van Zandt, and Company in 1874.

Fort Worth had 14 National Banks chartered during the Bank Note Era, and 12 of those banks issued National Bank Notes. North Fort Worth had 1 National Bank chartered during the Bank Note Era, The Exchange National Bank of North Fort Worth, Charter 8287, and it issued National Bank Notes.

Bank History

Advertisement from January 1921 for the Commerce Banks:  National Bank of Commerce and The Commerce Trust Company in the Waggoner Building, corner of Houston and Eighth Streets.[2]
Advertisement from October 1920 for a pocket bank for coins or a handy home safe.[3]

In July 1919, an announcement was made of the opening of the National Bank of Commerce between the 1st and 15th of August in temporary quarters located on the corner of Sixth and Main Streets. Anyone opening an account on opening day would be issued a certificate and each anniversary thereafter the would receive a souvenir in appreciation. Their names would also be placed on record on the bank's carter member honor roll.[4] On August 16, 1919, a charter was granted to the National Bank of Commerce, Fort Worth, with $1,000,000 capital stock.[5] The Report of Condition as of the close of business on November 17, 1919, showed capital stock paid in $747,500, surplus, $73,750, and individual deposits of over $2.4 million. Other assets included $14,380.50 advanced on a banking room in the Waggoner Building.[6]

In January 1920, the directors were Arthur Adams, W.M. Babcock, A.P. Barrett, J.H. Barwise, Jr., George Beggs, Jr., C.J. Benson, C.C. Cabiness, Hubb Diggs, G.W. Haltom, Tom Harrell, J.H. Jackson, S.S. Lard, D.A. Levy, George A. Lock, D.A. Levy, George A. Lock, J.F. Lyons, L.H. McKee, C.H. Pattison, J.J. Perkins, C.W. Reid, E.T. Renfro, Lee Russell, Jesse R. Smith, W.K. Stripling, A.E. Thomas, and J.E. Willis. The officers were C.J. Benson, president; C.H. Pattison, A.E. Thomas, J.H. Jackson, and Geo A. Lock, vice presidents; J.E. Willis, vice president and cashier; C.E. Gillham and O.F. Macon, assistant cashiers. After just five months, the bank had deposits of $6,837,034.19.[7]

In December 1920, two new directors, Harry J. Morlang of Fort Worth and J.I. Staley of Wichita Falls, were elected to the board of the National Bank of Commerce. Morland was general manager of the Oil Well Supply Company of Fort Worth and was in charge of the business in the Texas fields. Staley, also prominent in Texas oil circles, was president of the Security National Bank of Wichita Falls, and was interested in the First National Bank of Burkburnett where he was formerly an officer.[8] 

In the year ending July 1, 1920, building permits issued in Fort Worth totaled more than $22,500,000. This record surpassed that of any other city south of St. Louis by more than $5,000,000. In that period 1,750 houses averaging more than $5,000 in cost were built. Twenty apartment houses ranging in cost from $40,000 to $500,000 were built. In the business section, the W.T. Waggoner Building, twenty stories high and recently completed, cost more than $1,500,000. Every one of the 354 offices was rented and occupied. The Farmers & Mechanics National Bank Building which would be completed by March 31st was twenty-four stories high, 100x100 feet, costing $2,000,000. This was the largest office building in Texas. Fifteen floors had already been rented and applications on file were sufficient to fill the entire building. The Winfield Hotel to be completed by June 15 was sixteen stories high and would contain 600 guest rooms all with bath and would cost $3,000,000. In addition the furnishings would cost about $750,000. The Winfield would be the largest and finest hotel in the South. The Neil P Anderson Building would be finished by February 1st.  It was eleven stories high, costing $800,000. Three-fourths of the space was rented and the owner had only considered applicants engaged in cotton and grain business. The Star-Telegram Building would be completed by December 15th. With the equipment it represented an investment of $1,000,000. The United States Navy Helium Gas Plant would be completed by January 1st. The cost of the plant and the pipe line which served it would be more than $5,000,000.[9]

On Wednesday morning, July 27, 1921, Fort Worth's newest banking institution, the Continental National Bank, opened for business under auspicious conditions. The new bank was a consolidation of the Continental Bank and Trust Company, one of Fort Worth's oldest, and of the National Bank of Commerce which started in business in August of 1919. The Continental National occupied the quarters formerly occupied by the National Bank of Commerce in the W.T. Waggoner building at Eighth and Houston Streets. All Wednesday morning the lobby of the bank was crowded with businessmen and financiers who came to extend congratulations and give expressions of good will and confidence. Hundreds of congratulatory messages were received from banks in all parts of the country. Floral offerings were also sent. Officers and directors appeared particularly pleased with expressions of confidence received from out-of-town banks. During the day several out-of-town financiers called. Among these were Jack Gillespie, vice president of the Dallas National, and A.A. Kuehn, president of the Farmers State Bank of Burkburnett. In addition to opening with the combined deposits of two banks, the Continental National began with approximately 100 correspondence accounts. It was said Wednesday that it will be the policy of the new institution to extend its country banking relations as well as the ordinary commercial lines of business. "We literally have been showered with congratulations and expressions of good will and confidence" said J.G. Wilkinson, president. “Having only one day from the time the charter was issued till the time of opening the bank in which to discuss the consolidation with the friends of the two institutions and the public in general, we are extremely gratified with the expressions that have come from every source," he added.[10]

Official Bank Title

1: The National Bank of Commerce of Fort Worth, TX

Bank Note Types Issued

No National Bank Notes were issued by this bank.

Bank Presidents and Cashiers

Bank Presidents and Cashiers during the National Bank Note Era (1919 - 1921):

Presidents:

Cashiers:

Other Known Bank Note Signers

  • No other known bank note signers for this bank

Bank Note History Links

Sources

  • Fort Worth, TX, on Wikipedia
  • Don C. Kelly, National Bank Notes, A Guide with Prices. 6th Edition (Oxford, OH: The Paper Money Institute, 2008).
  • Dean Oakes and John Hickman, Standard Catalog of National Bank Notes. 2nd Edition (Iola, WI: Krause Publications, 1990).
  • Banks & Bankers Historical Database (1782-1935), https://spmc.org/bank-note-history-project
  1. ↑ Fort Worth Star-Telegram, Fort Worth, TX, Tue., Oct. 26, 1920.
  2. ↑ Fort Worth Star-Telegram, Fort Worth, TX, Wed., Jan. 26, 1921.
  3. ↑ Fort Worth Star-Telegram, Fort Worth, TX, Sun., Oct. 31, 1920.
  4. ↑ Fort Worth Star-Telegram, Fort Worth, TX, Sun., July 27, 1919.
  5. ↑ The Liberty Vindicator, Liberty, TX, Fri., Aug. 29, 1919.
  6. ↑ Fort Worth Star-Telegram, Fort Worth, TX, Sun., Nov. 30, 1919.
  7. ↑ Fort Worth Star-Telegram, Fort Worth, TX, Wed., Jan. 28, 1920.
  8. ↑ Fort Worth Star-Telegram, Fort Worth, TX, Fri., Dec. 10, 1920.
  9. ↑ Fort Worth Star-Telegram, Fort Worth, TX, Wed., Dec. 1, 1920.
  10. ↑ Fort Worth Star-Telegram, Fort Worth, TX, Wed., July 27, 1921.
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